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7 Electric Vehicle (EV) Stocks That Have Real Juice - 4 of 7

 
 

#4 - Electrameccanica Motors (NASDAQ:SOLO)

If you want a really speculative play in the EV market, you can look at Electrameccanica Motors (NASDAQ:SOLO). The company is manufacturing a three-wheeled vehicle that actually falls into the class of a motorcycle. And that’s only one reason why the stock is both risky and intriguing.

The concept is a one-person vehicle (hence the ticker SOLO). And the idea is that like the Smart car of years gone by, Americans are ready for a single-seat vehicle. I’m not so sure, but the vehicles may be an alternative to public transportation for the post-pandemic business traveler. And Electrameccanica is looking into a vehicle that includes slightly more storage capacity that will allow them to capture some commercial sales, specifically food delivery and last-mile service.

A theme you’ll notice in this presentation is that you should have realistic expectations and the stock price should reflect that. Late last year, SOLO stock had a market capitalization that exceeded $1 billion. At that time, shares of SOLO stock were trading for about $11 share. Today, the stock trades for under $9 ($8.29) and its market cap sits at around $677 million.

About Electrameccanica Vehicles

Electrameccanica Vehicles Corp. develops, manufactures, and sells electric vehicles in the United States and Canada. Its flagship product is the SOLO, a single seat vehicle. The company is also developing four-wheeled eRoadster and Tofino. In addition, it provides services, repairs, and support services, as well as sale of parts and custom built vehicles. Read More 
Current Price
$0.21
Consensus Rating
Hold
Ratings Breakdown
0 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$0.40 (88.5% Upside)

 

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